Plans for a US$500m (€371m, £292m) historical theme park in Russia have been confirmed after Russian billionaire Konstantin Malofeyev signed an agreement with French company Puy du Fou International to build the attraction.

The concept will be based on Puy du Fou – an attraction which is both a theme park and an extravagant show comprising thousands of actors bringing history to life for the 1.7 million visitors it receives annually.

"We want to create not so much an entertainment park as a place for several hours of immersion in the history of Russia through a tremendous performance," said Malofeyev speaking to Russian news outlet Vedomosti, adding that the project is “unprecedented” in Russia’s tourism market.

Malofeyev did not specify the exact location of the park, to be named Tsargrad, but said that it will be built on 300 hectares of land near a hotel and entertainment complex that Malofeyev owns in the Moscow region. The park will be opened around 2017.

Puy du Fou has been looking to move its operations outside of France, with plans also recently revealed for the brand to makes its UK debut in Auckland Castle.